Have you ever gone a hike and decided an hour into it that you were done and wanted to turn back around, but then thought to yourself: “Yho kunini ndihamba? Let me bekezela, I’m probably close to finishing this hike.” But then to your shock and dismay you find that you’re still not done after two hours, and you can’t even see the finish line. This, my friend, is the sunken cost fallacy. 

The sunken cost fallacy occurs when someone continues to invest time and effort into something even when it’s no longer beneficial, just because they’ve already invested a lot of time and money. For students, this can be a big problem because they may face challenges like lack of resources; no academic support; or they simply don’t enjoy what they are studying. However, they keep studying a course even if they can’t keep up because they feel like they’ve already invested too much. 

This can lead to a person feeling trapped or stuck in a situation that no longer serves them. It can result in a person feeling like they don’t have the time or resources to pursue activities that they enjoy or that would help them socialise and connect with others. For example, if a student is struggling with their studies but continues to invest into a course that is not beneficial, they may become more stressed and withdrawn. 

While deciding to change a course can have financial implications, it’s crucial to take a deeper look at the mental and emotional toll that staying in an unbeneficial situation can have on you. 

To overcome the sunken cost fallacy, you may need to ask yourself some difficult questions that challenge their current beliefs and assumptions:

1. Am I still passionate about this course or am I continuing to invest in it solely because of the time and money I’ve already put in?

2. Is this course truly benefiting me and aligning with my long-term goals, or am I simply going through the motions to avoid feeling like I’ve wasted my resources?

3. Are there alternative courses that may be better suited to my needs and interests, and if so, what steps can I take to pursue them?

4. What are the potential consequences of continuing to invest in something that is no longer beneficial, and am I willing to accept those consequences?

5. How will I feel in the long-term if I continue down this path, versus making a change now that may be difficult but ultimately more fulfilling?

It’s important to note that answering these questions honestly and objectively can be challenging, but it’s a necessary step towards looking at our assumptions and making decisions that align with their long-term goals and overall well-being.